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Monthly Archives: August 2013

Sunny is cute and all , but have you noticed that the President doesnt own any white dogs? And Obama is definitely to blame for the government response to a disaster that took place three years before he was elected. Its Hate On The President week at the Fringe Factor. U.S. President Barack Obama walks the first dog Bo to a picnic for members of Congress on the South Lawn of the White House June 8, 2010. (Getty) Maine: President Obama Hates White People The Portland Press Herald reported Monday that, while speaking to a room full of Republicans at a private fundraiser last week, Maine Governor Paul LePage said the president hates white people. Two state lawmakers who asked that their names not be used confirmed with the local newspaper that theyd heard the governor lament President Obamas failure to be the best president ever by failing to highlight his biracial heritage because of his hatred of white people. Source: http://www.thedailybeast.com/articles/2013/08/25/fringe-factor-obama-hates-white-people-and-white-dogs.html

KACER: Does Obama hate Christianity, or just Christians?

Saturday, August 24, 2013 – Biblical Politics by Frank Kacer Frank Kacer KACER: Tough love questions for all congressional legislation CALIFORNIA August 24, 2013 Its a serious matter to question anothers spiritual condition. But when the actions of the most powerful leader in the world contradict his claim of identifying with the Christian faith, it cant go unchallenged. SEE RELATED: KACER: Tough love questions for all congressional legislation Coptic Christians are being terrorized throughout Egypt. Since ousted-president Mohammed Morsis arrest, at least four Christians have been murdered by the Muslim Brotherhood or some other hostile group. In addition, large numbers of churches, Christian-owned businesses, and orphanages have been torched and looted. Source: http://communities.washingtontimes.com/neighborhood/biblical-politics/2013/aug/24/does-obama-hate-christianity-or-just-christians/

A member of the Free Syrian Army is seen in a damaged building in Salah al-Din neighbourhood in central Aleppo August 24, 2013. Credit: Reuters/Loubna Mrie By Oliver Holmes and Roberta Rampton WASHINGTON/BEIRUT | Sat Aug 24, 2013 4:08pm EDT WASHINGTON/BEIRUT (Reuters) – U.S. President Barack Obama considered options on Saturday for a possible military strike on Syria in response to a nerve gas attack that killed hundreds as Syria sought to avert blame by saying its soldiers had found chemical weapons in rebel tunnels. A senior U.N. official arrived in Damascus to seek access for inspectors to the site of last Wednesday’s attack, in which opposition accounts say between 500 and well over 1,000 civilians were killed by gas fired by pro-government forces. Source: http://www.reuters.com/article/2013/08/24/us-syria-crisis-idUSBRE97K0EL20130824

Report: President Obama has no plans to stump for underdog Buono

As the president’s motorcade pulled into Binghamton University on Friday for a town hall-style meeting, hundreds of protesters gathered outside to urge Obama to oppose fracking, a natural gas drilling process. One woman held a sign that read: “I worked for you. Now please work for me. No fracking.” Fracking protesters also showed up a day earlier outside the high school where Obama spoke in Syracuse. They were joined by about a dozen people calling on Obama to cut U.S. aid to Egypt, where the military removed a democratically elected president from power. Source: http://abcnews.go.com/Politics/wireStory/obama-road-bubble-20055482

Obama Leaves the Bubble and Hits the Road

Not surprisingly, Obama blamed the Republicans in Congress as the reason little progress has been made since they took control of the House of Representatives three years ago: Congress doesnt have a whole lot of core responsibilities. One core responsibility is passing a budget, which they have not done yet. The other core responsibility that theyve got is to pay the bills that theyve already accrued. Of course, he never mentioned the actual reason Congress has had no budget: The Senate, under Democratic majority leader Harry Reid, completely refused to bring up any sort of budget bills within his chamber even though the Republican-led House of Representatives passed one every single year of Obama’s presidency. Nevertheless, Obama said that if Congress does those things when they get back to Washington, D.C., after their summer vacation, then the economy can continue to recover, and folks out there who are working hard or trying to find a job will have some sense of stability. At that point, Cuomo asked: How much of the lack of action in Washington do you put on yourself in terms of blame? Ultimately, the buck stops with me, and so, any time we are not moving forward on things that should be simple, I get frustrated, and Ive said before and I continue to say Im willing to do whatever it takes to get Congress — and Republicans in Congress in particular — to think less about politics and party and think more about whats good for the http://www.obamastudentloanforgiveness.net/ country. Source: http://newsbusters.org/blogs/randy-hall/2013/08/23/limbaugh-dismisses-obama-claim-gop-too-worried-about-him-prevent-gridloc

President Obama knows he wouldn’t be where he is had it not been for civil rights trailblazers

Christie campaign spokesman Kevin Roberts declined to comment yesterday. The revelation is the latest slight the Democratic state senator from Middlesex has endured from her own party. Democratic gubernatorial candidate Barbara Buono will have to pull of an upset without the help of President Barack Obama, according to the Associated Press. (Patti Sapone/The Star-Ledger) Obama followed up his famous figurative embrace of Christie in the immediate aftermath of Hurricane Sandy with a visit in May to Point Pleasant Beach and Asbury Park. The Democratic president carried on a chummy rapport with the Republican governor, whom he called “Chris.” Meanwhile, Buono was one of about 30 state and local officials who met briefly with the president. Source: http://www.nj.com/politics/index.ssf/2013/08/report_president_obama_has_no_plans_to_stump_for_underdog_buono.html

These programmes could attract USD 15-20 billion of inflows relatively quickly and provide much needed breathing space for policymakers to address India’s long-term structural problems, it added. “Policymakers, however, still remain reluctant to introduce these schemes,” Barclays said. Meanwhile, the RBI has partially eased its recent tightening measures, reverting to purchases of government bonds under its open isa etf strategies market operations (OMOs), as well as offering temporary relief to banks’ bond investment and liquidity maintenance requirements. “Measures to improve liquidity in Indian rates markets are positive for government bonds, although the impact on the the rupee is more ambiguous,” Barclays said. It further noted that the tightening measures implemented in stages since July 15 were unduly harsh on market liquidity and interest rates without providing commensurate support for the rupee. “In fact, we felt the measures had a high risk of being counterproductive, and, in the event, they failed to support the INR,” it said. Source: http://economictimes.indiatimes.com/markets/forex/boosting-forex-inflows-key-to-supporting-rupee-barclays/articleshow/21978982.cms

FOREX-Dollar rises to near 3-wk high vs yen, higher US bond yields support

Follow Ilya on Twitter at @IlyaSpivak To be added to Ilya’s e-mail distribution list, please CLICK HERE New to FX? Watch this Video . For live market updates, visit the Real Time News Feed DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from FXCM . Source: http://finance.yahoo.com/news/forex-usd-jpy-technical-analysis-034800724.html

Forex: USD/JPY Technical Analysis – Critical Resistance in Play

10-year Treasury yield last stood near 2.897 percent, having set a two-year high of 2.936 percent on Thursday. The recent rise in U.S. bond yields, driven by expectations the Federal Reserve may start to unwind its stimulus as early as next month, has increased the attractiveness of dollar-denominated assets. Treasury yields got a further push higher after minutes of the Fed’s July meeting released on Wednesday did little to change market expectations of the Fed’s tapering timetable. Source: http://www.reuters.com/article/2013/08/23/markets-forex-idUSL4N0GO08620130823

Forex – NZD/USD lower after China PMI

The unemployment rate guidance is clearly specified as conditional. For many, a less controversial option for the FOMC would be the introduction of a new +1.5% downside inflation threshold. The market could interpret this as a wholly symbolic attempt to drive home the message that a tapering of asset purchases does not have any implications for timing of future rate hikes. Its been described as symbolic, because it would never naturally impede any future tightening by the Fed. Would Bernanke and his fellow cohorts ever consider a rate hike when projecting that next years inflation rate will be below 1.5%? Its certainly a mouthful, and historically a non-starter to the better informed that insist rate hikes would ever be given serious consideration under such an inflation outlook. In theory, this suggestion is anything but symbolic it has no practical significance. Source: http://www.forbes.com/sites/deanpopplewell/2013/08/21/forex-traders-eagerly-await-julys-fomc-minutes/

Boosting forex inflows ‘key’ to supporting Indian rupee: Barclays

The break of 131.96 resistance suggests that rebound from 124.95 is resuming and current rally would likely break through 132.73 resistance. But, current price action isseen as part of the consolidation from 133.80 and so, expect strong resistance from 133.80 to limit Northside and bring another fall to extend the consolidation pattern. On the downside, A break below the minor support at 130.28 the minor support will turn bias back to the Southside for the support at127.96 first. The Big Picture,this developmentaugurs that the medium term up trend from 94.11 has topped out at 133.80 on Bearish divergencecondition in the daily MACD. Consolidation from there could extend with another fall to target 119.10 cluster support , 38.2% Fibo etracement of 94.11 to 133.80 at 118.63. Strong support would be seen there, onthe initial attempt. Source: http://www.livetradingnews.com/forex-outlook-eurjpy-2-6216.htm

Forex: USDJPY and EURNZD Offer Trades for Different Market Directions

The Turkish Central Bank has responded with a larger than usual daily dollar auction of $350-million, but that support has yet to wholly filter through. At present, the currency has stalled just ahead of the psychological 1.99 threshold. Its only a matter of time before the dollar gets its second wind, presumably from North America. Promising Data Buoys Euro The 17-member single currency has not been immune to the dollars flight. Already this morning the EUR has endured its own wild ride as investors digested mixed French, German, and Eurozone manufacturing surveys. Source: http://www.forbes.com/sites/deanpopplewell/2013/08/22/forex-traders-face-mixed-fed-views-as-emerging-markets-stumble/

Forex Traders Face Mixed Fed Views As Emerging Markets Stumble

“Issuance of forex-denominated bonds or a deposit scheme targeting nonresident Indians (NRIs) remain the most potent options, in our view,” Barclays said. These programmes could attract USD 15-20 billion of inflows relatively quickly and provide much needed breathing space for policymakers to address India’s long-term structural problems, it added. “Policymakers, however, still remain reluctant to introduce these schemes,” Barclays said. Meanwhile, the RBI has partially eased its recent tightening measures, reverting to purchases of government bonds under its open market operations (OMOs), as well as offering temporary relief to banks’ bond investment and liquidity maintenance requirements. “Measures to improve liquidity in Indian rates markets are positive for government bonds, although the impact on the the rupee is more ambiguous,” Barclays said. It further noted that the tightening measures implemented in stages since July 15 were unduly harsh on market liquidity and interest rates without providing commensurate support for the rupee. Source: http://www.indianexpress.com/news/boosting-forex-inflows-key-to-supporting-indian-rupee-barclays/1158722/

Forex Traders Eagerly Await July’s FOMC Minutes

China’s manufacturing growth has started to stabilise on the back of modest improvements of new business and output. This is mainly driven by the initial filtering through of recent fine-tuning measures and companies’ restocking activities, despite the continuous external weakness. We expect further filtering through, which is likely to deliver some upside surprises to China’s growth in the coming months,” said Hongbin Qu, Chief Economist, China & Co. Head of Asian Economic Research at HSBC in a report. Source: http://www.moneycontrol.com/news/rupee/forex-nzdusd-lower-after-china-pmi_939398.html

Forex Outlook: EUR/JPY

While the relationship between the US dollar and its Taper interest and the S&P 500 with its proclivities towards moral hazard remains my top concern, there are trade opportunities that don’t require a full-scale fundamental drive to play out. In today’s video, we discuss the fundamental contradiction between Japanese yen and New Zealand dollar setups; and why they can both play out in these markets. Find out what event risk can threaten the trade setups discussed in today’s video with the DailyFX Economic Calendar . Market conditions change, and our strategy should reflect those changes. Source: http://www.dailyfx.com/forex/video/daily_news_report/2013/08/23/Forex_USDJPY_and_EURNZD_Offer_Trades_for_Different_Market_Directions.html

Other airlines also fell. Delta Air Lines dropped $1.60, or 7.7 percent, to $19.44 and United Continental fell $2.05, or 6.2 percent, to $56.87. @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Copyright/IP Policy Quotes are http://www.todayhotstocks.com/ real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Source: http://finance.yahoo.com/news/stock-market-creeps-higher-treasury-190909822.html

EDT August 15, 2013 The sculptures of bear and bull stand in front of the Frankfurt Stock Exchange in Germany. (Photo: Michael Probst, AP) Record-breaking 2013 stock rally now looks wobbly Worries about retailers’ earnings cast concern over economy Fed policy, corporate earnings growth and interest rates now hold the key SHARE 7 CONNECT 4 TWEET 3 COMMENTEMAILMORE NEW YORK Here’s some serious summer reading for investors relaxing at the beach: Is the bullish stock market story Wall Street has been writing about the past four years about to change to a new, darker chapter? CISCO: Cuts 4,000 jobs That question keeps popping up on trading desks as the market’s early-year momentum fades, big down days for the Dow Jones industrial average begin to pile up, and investors ponder what it means for the economy when the nation’s biggest retailer slashes its sales and earnings forecasts for the rest of the year at a time when the Federal Reserve is inching ever closer to the start of a less market-friendly monetary policy. Back-to-back triple-digit losses for the Dow, including a 225-point drop Thursday, have pushed the blue-chip gauge down 3.5% from its Aug. 2 record close of 15,658.36. Source: http://www.usatoday.com/story/money/markets/2013/08/15/bull-market-faces-fresh-test/2661671/

Stock Market Ekes out Small Gains; Apple Climbs

The problem is if they are looking for the perfect information, they’re never going to find it,” Boockvar said. Unlike Lockhart, Bullard is a voting member of the Fed. The talk now has become that the Fed could do a smaller amount of tapering, like trim the program by $10 billion a month instead of $20 billion. “Markets are very thin. Source: http://www.cnbc.com/id/100959901

Three reasons to worry about the ‘hot’ IPO market

If you chose the first explanation, I have a bridge I want to sell you. To appreciate why the second explanation is closer to the truth, consider a study of the stock market between 1929 and 2001 conducted by Owen Lamont, then a finance professor at Yales School of Management and currently a lecturer at Harvard. He found that companies tend to issue stock in waves, and that the stock market tends to be a below-average performer following periods in which stock issuance is particularly high. Click to Play GrubHub Seamless now at 25,000 restaurants strong GrubHub and Seamless approved a merger last week that now covers about 25,000 restaurants in 500 cities. Source: http://www.marketwatch.com/story/three-reasons-to-worry-about-the-ipo-market-2013-08-13

The sharp rise in yields lifted financial companies because higher interest rates could help them generate better profit margins. That helped offset declines in homebuilders and other stocks that are sensitive to rising borrowing costs. The yield is also climbing on speculation that the Federal Reserve will cut its stimulus as the economy recovers. Atlanta Fed President Dennis Lockhart said Tuesday that it was too early to say when the bank would ease back on its stimulus, but hinted that it would likely happen before the end of the year. “You could argue that stocks would be up higher today if the bond market was behaving,” said John Canally, Investment Strategist for LPL Financial. Source: http://abcnews.go.com/Business/wireStory/stocks-fall-wall-street-yum-slumps-19946051

Our Student Loan System Is Broken, and These New Statistics Prove It

About 11 million students this year are expected to have lower interest rates, saving the average undergraduate $1,500 on interest charges on this year’s loans. The legislation links student loan interest rates to the financial markets. It offers lower rates this fall because the government can borrow money cheaply at this time. If the economy improves in the coming years as expected, it will become more costly for the government to borrow money and that cost would be passed on to students. Rates on new subsidized Stafford loans doubled to 6.8 percent July 1 because Congress could not agree on a way to keep them at the previous 3.4 percent rate. Source: http://abcnews.go.com/Business/wireStory/obama-sign-student-loan-deal-19912849

Fitch Takes Various Actions on Multiple SLM Student Loan Trusts

First, you have the the sheer amount of debt students are piling on. This part of the problem is familiar. It tends to get exaggerated a bit,but in the end, there are millions of former students out there struggling under the weight of loans that, 15 or 20 years ago, they would not have needed to borrow in order to make it through college. The second half of the crisis earns less attention, but is in some ways equally important. It’s our broken system for helping students manage their debt. With all of the repayment plans available to borrowers, some of which cap monthly payments based income, it should theoretically be damn near impossible to default on a student loan. Source: http://www.theatlantic.com/business/archive/2013/08/our-student-loan-system-is-broken-and-these-new-statistics-prove-it/278453/

Congress OKs cheaper student loans

The total parity ratio for trust 2005-1 has been stable and the senior parity ratio has been increasing. The senior parity is currently 142.37% and total parity is 100% as of June 2013. Fitch gives credit to the reserve fund, which is excluded from the adjusted pool balance once the pool factor is at 40%. The current pool factor is at 10.23%. Fitch’s calculated total parity is at 100.98%. Source: http://www.reuters.com/article/2013/08/08/ny-fitch-ratings-idUSnBw086445a+100+BSW20130808

Son secretly took out huge student loans in parent’s name

The new rates would be retroactive and apply to loans taken out after July 1. The bill, which passed the Senate last week, will now go to the President Obama’s desk to be signed into law. It has provisions for rates to go higher in coming years. As House members debated the bill, many Republicans took credit for the deal. They noted that the Senate version wasn’t much different from their own student loan bill, which linked rates to the bond markets. Source: http://money.cnn.com/2013/07/31/pf/college/student-loan-house/index.html

Top 7 Ways to Eliminate Student Loan Debt from Your Life

My wife cosigned a homepage private loan for $25,000 for the first year, and that was the last we heard of any loans until he graduated with a degree in social services. After he was out of school for six months, we started getting phone calls asking for payment. Turns out he electronically signed my wife’s name to the next three years of his student loans. Just to keep the creditors from harassing us daily, we pay the interest, which is about $1,100 a month and equals two-thirds of my wife’s take-home pay. (I’m disabled and can’t work; she’s 64 and planning to retire soon.) Our son hasn’t paid a dime on any of the debt and seems to think it will disappear if you don’t talk about it. He makes only $15 an hour. Source: http://www.latimes.com/business/la-fi-montalk-20130811,0,5493313.column

Obama to Sign Student Loan Deal

Today it’s possible to do that and get your student loan debt forgiven if you know where to look. At least 50 counties in Kansas qualify as what are called “rural opportunity zones.” In return for living in these communities, they’ll absorb up to $15,000 of your student loan debt and exempt you from state income tax for five years. You don’t have to be an existing resident of the state to qualify for this program. A similar program recently launched in Niagara Falls, New York. Niagara Falls is offering up to $3,500 a year in loan forgiveness if you rent and live there full-time or buy and occupy a home in the community as a full-time resident. Source: http://www.huffingtonpost.com/clark-howard/top-7-ways-to-eliminate-s_b_3727667.html